Sandip Sabharwal, a market expert, indicates that Indian equity markets are poised for further gains due to strong corporate earnings and resilient consumer demand. He notes that the current earnings season has been positive, particularly for consumer-facing businesses, despite challenges from rising costs. Crude oil prices are a major concern, with Sabharwal suggesting they could decline significantly if geopolitical tensions in West Asia are resolved. He believes that without these tensions, Indian markets could have been 7% to 8% higher than their current levels. The revival in consumer demand is evident in sectors such as FMCG and retail, with companies like Dabur India and Pidilite Industries reporting strong results. Sabharwal also maintains a positive outlook on defence stocks, recommending them as long-term investments. Overall, he emphasizes that if geopolitical stability returns and earnings momentum continues, Indian equities could reach new highs in the coming months.